LNG

Gaztransport and Technigaz (GTT), the French LNG storage technology company for shipping and onshore, said the Supreme Court of Korea rejected GTT's appeal on licence and technical assistance deals with South Korean shipyards.

The Paris-based company had appealed against the decision of the Seoul High Court confirming the company's obligation to separate, in whole or in part, the “Technology License and the Technical Assistance” agreements if requested by the South Korean shipyards it has dealings with.

GTT had filed its appeal against the Korea Fair Trade Commission (KFTC) decision in December 2022.

“GTT acknowledges this very surprising decision, which comes only three months after the decision of the same Supreme Court of Korea to suspend the effects of the decision of the Seoul High Court,” said GTT.

The French company said it considered that its provision of technical assistance and engineering services “were essential to ensure the safety and performance” of its solutions and that its “unique expertise” was crucial to the safety of LNG maritime transport.

Defending interests

“Convinced of the sound basis of its contractual provisions, GTT is still committed to defending its interests and those of the entire LNG industry, and is considering the most appropriate actions to be taken in order to maintain its rights,” stated the Paris-based company.

“The company does not anticipate any significant financial impact in the short or medium term,” it added.

The KFTC in December 2022 had ordered GTT to allow the Korean shipyards, upon their request, to perform all or part of the technical assistance services currently included in the technology licenses and to pay €9.5 million ($10.40M) as an administrative fine.

The loss of the Korea appeal comes as GTT continues to expand its relationships with Chinese companies and shipyards where it has similar accords and is building the LNG tanks storage technology business.

On the occasion of the visit of French President Emmanuel Macron’s to Beijing on April 6, 2023, PipeChina Engineering Technology Innovation Co. signed a cooperation agreement for the evaluation and further promotion of GTT’s membrane containment tank technology for LNG projects in China.

PipeChina Group is currently operating seven LNG receiving terminals in China and three new LNG import projects are under construction.

As the largest operator of LNG infrastructure in China, PipeChina said it was keen to expand its cooperation with GTT.

Adnan Ezzarhouni, General Manager of GTT China, explained that GTT had already delivered onshore tanks to the Chinese.

These were for a peak-shaving project at Hejian in Hebei province, operated by Huagang Gas, as well as Phase I of the giant Beijing Gas Tianjin-Nangang onshore LNG terminal and the company was seeking additional contracts.

GTT has major collaborations with major Chinese shipyards such as Hudong-Zhonghua Shipbuilding, a subsidiary of China State Shipbuilding Corp., and Jiangnan Shipbuilding located northeast of Shanghai on Changxing Island at the mouth of the Yangtze River.

Gaztransport and Technigaz (GTT), the French LNG storage technology company for shipping and onshore, has created a new smart-shipping brand from subsidiaries based in Singapore and Iceland.

The brand merger of the units is under the name Ascenz Marorka, taking the name of the Singaporean company Ascenz and the Europe-based Marorka.

GTT acquired Marorka, a smart-shipping company based in Reykjavik with services much sought by the LNG industry, in February 2020.

Marorka was bought from its owners and management team for an undisclosed sum.

The company designs maritime energy monitoring and optimization systems for vessels allowing them to reduce their environmental footprint and also provides other benefits.

The Islandic company’s systems were at the time of its acquisition by GTT installed on more than 600 vessels.

Marorka was purchased as a good technical, commercial and geographical complement to the Far East smart-shipping unit Ascenz.

Ascenz bunkering

One of the initiatives of Ascenz was to launch in 2021 the Electronic Bunker Delivery Note (eBDN) solution to improve the efficiency and transparency of the bunkering process in the Port of Singapore.

“Ascenz Marorka’s mission is to provide ship-owners and charterers around the world with the most comprehensive, innovative and reliable solutions that meet customers’ requirements, by offering a complete range of solutions, from the sensors to the modular software platform, in addition to high-value services provided by the Group’s experts,” explained GTT.

Philippe Berterottière, Chairman and Chief Executive of GTT, said he was proud to announce the launch of the Ascenz Marorka brand as part of a comprehensive digital strategy.

“With Ascenz Marorka, our ambition is to combine the digital expertise of our Group more effectively and to provide even more value to our customers in their journey for efficiency and sustainability,” explained Berterottière.

Anouar Kiassi, Vice-President Digital and Information at GTT, said that thanks to 30 combined years of experience the Ascenz Marorka brand would provide a great service to ship owners.

“The new brand will put us in a stronger position to design and distribute superior solutions to our customers and meet the evolving requirements of the maritime industry,” Kiassi stated.

Gaztransport and Technigaz (GTT), the French LNG storage technology company, and the Shanghai Merchant Ship Design and Research Institute (SDARI) have received approval from the European classification society DNV for their LNG-powered bulk carriers.